NIFTY TRADE SETUP FOR THE DAY -SORRY MEMBERS FOR NOT POSTING YE

Oct 14, 2020

-SORRY MEMBERS FOR NOT POSTING YESTERDAY
-I WAS BUSY IN SOME IMPORTANT PERSONAL WORK

INDEX SUMMARY

-SGX NIFTY IS INDICATING A 50 POINT GAP-DOWN
-INDEX WAS DEFENDED BY THE HEAVYWEIGHTS LIKE RELIANCE AND INFY
-OTHERWISE INDEX WOULD HAVE CORRECTED MORE
-YESTERDAY NIFTY INDEX ON DAILY CHART HAD CREATED A PATTERN CALLED "INSIDE BAR"
-IF MARKET BREAKS LOW OF PREVIOUS DAY WE MIGHT SEE FURTHER CORRECTION IN THE INDEX
-CRUCIAL SUPPORT COMES @11850
-CRUCIAL RESISTANCE COMES @11980
-FOR TWO DAYS WE ARE CONSOLIDATING AND THAT IS GOOD
-HEALTHY MARKETS CORRECT TIME TO TIME
-MATTER WILL GET WORSE FOR NIFTY INDEX IF IT CROSSES BELOW 11625
-BUT I DON'T SEE THAT HAPPENING SOON
-ON HOURLY CHART NIFTY INDEX HAS TAKEN STRONG SUPPORT ON ITS 20-EMA
-WITH GAP-DOWN IT WILL BE TAKEN OUT QUESTION IS WILL WE SEE FRESH BUYING AGAIN
-WAIT AND WATCH APPROACH
-DASH TRADES BELOW


NIFTY RESISTANCE FOR THE DAY
11915-11950-11980 (FUT)
NIFTY SUPPORT FOR THE DAY
11890-11854-11815 (FUT)

NIFTY FUTURES DASH TRADES

BULL SCENARIO

-IF INDEX CROSSES ABOVE 11915 AGAIN

BUY@11916
STOP@11896
TARGET@11938
QTY=450

BEAR SCENARIO

-IF INDEX CROSSES BELOW 11860

SHORT@11855
STOP@11885
TARGET@11820
QTY=450

SCREENSHOT



!!PLEASE NOTE THE ABOVE INFORMATION IS FOR KNOWLEDGE ONLY!!
!!TRADE ACCORDING TO YOUR RISK PROFILE!!
!!HAPPY TRADING!!

Oct 14, 2020

Trade closed: target reached

BEAR SCENARIO TRADE TARGET ACHIEVED